How much will your pension rise? 100



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He may have moved on to greater things, but the new Treasurer, Scott Morrison, has one last parting gift for Australians.

His office announced yesterday that the age pension will increase again following indexation linked to the Consumer Price Index.

The increase will see the maximum Age Pension rise to $867 a fortnight for single pensioners and $1,307 for couples combined, which equates to $6.80 extra per fortnight for single people and $10.20 per couple.

Over a year, people on the pension will see a $176.80 increase (singles) or $265.20 for couples.

On top of this, more than 170,000 pensioners with modest assets will have their pensions increased by an average of more than $30 per fortnight as part of the Government’s plans for fairer access to a more sustainable pension that will come into effect in January 2017.

A statement from the Liberal party says, “This increase was and still is opposed by Labor. Once again the Labor Party’s shrill and hypocritical scare campaign on pensions has been exposed.

“Since this Government came into office, the Age Pension has increased by $58.60 per fortnight for single pensioners and by $88.20 per fortnight for couples combined.

“Pensioners also benefit from the Coalition Government’s decision to retain the carbon tax compensation through the Energy Supplement of $14.10 per fortnight for single pensioners and $21.20 for couples.

“The Australian Government understands the importance of these increases to help pensioners and allowance recipients to keep up with the cost of living,” Minister Morrison said.

Adult rates of pensions and allowances are adjusted twice a year, in March and September, to ensure they keep up with the cost of living. Pension increases are linked to prices and wages while allowance increases are linked to the Consumer Price Index.

Pensions are adjusted using whichever of the two measures, the Pensioner and Beneficiary Living Cost Index or the Consumer Price Index, produces the higher result. That result is then compared to a Male Total Average Weekly Earnings benchmark. If this benchmark gives a higher pension increase, then the benchmark is used to adjust pensions.

Full details of all rates and thresholds indexed today can be found here.

How will this increase affect you? Share your thoughts. 

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  1. Yep sounds good to me. I wake up in agony in the morning from working hard all my life. The Pollies and public servants wake up and get going, but it is money for nothing you dont hear me complaining LOL.

    1 REPLY
  2. This pension increase is the one we are given by The Government yearly, no matter who is in Government , it is legislated. This is the same rise the Liberal Party wanted to cut , it is the CPI rise, don’t let them con you, this is not a gift from The Liberal Government and if anything this just points to how they are still lying to us

    14 REPLY
    • I was just thinking that, I noticed pensions have gone up $50 odd dollars since the Liberals took over …….. some people may be stupid enough to believe that this is a gift from the government, not the CPI increase that we would get whoever governs !

    • exactly Victoria Alexandra D’Arienzo , you look at some the comments in here and some people are really naive

    • Leigh Compton it was only the ALP and the Senate that saved us, it is very difficult to survive now on a pension, costs keep rising for instance since the Abbott Government came into power, I have an electricity price rise, a gas price rise, and excess water price rise and that is not even taking into account the basics like food

    • Leigh Compton
      It has gone down. Our pensions used to be based on a percentage of the minimum wage. The LNP changed the increase to the CPI. This means that we are now receiving a lower increase than we received before. Consequently this means a loss. That my dear is basic economics.
      As for it having gone up $58.60 per fortnight in less than two years; that is a load of bull crap.

    • Abbott did say we had recieved a pay rise of 75.00 since Libs had been in power big deal I don’t recall any soon as we get or ever get extra utility bills go up more than what we get

    • What rise, all utilities have gone and food prices have gone up at least 2weeks before pensions increase and they keep going up after they get it.

    • Medication has also risen under this Government and we now have a petrol tax and we have to cope with all of it with this small rise and they even wanted to cut that

    • Leigh Compton.. Shorten is correct. Abbott cut the concession payments for pensioners to the states, it is now up to the states to find the money to pay them.

    • I am getting sick and tired of the hole lot, we don’t believe in Father Christmas any more. So please treat us as Adults not some old brainless mess. The ups and down of the you get some money you don’t get money prices go up up and more up. How can people help but be anxious an in a lot of times have to use medical help,which cost the tax payer more money. Nobody wins.

  3. Just the normal yearly rise and as for the supposed rise for some in 2017, we could all be dead by then, I think that is what they are hoping for

  4. that is how much the single aged pensioner gets now…

    5 REPLY
    • yep , lousy isn’t it, cut that in half for a weekly payment and you will see it is way below the poverty line.

    • it sure is but if u read the post it says we will get a rise to that amount how can we when its the amount we get now??.. below the poverty line is correct Libbi.. after working most of our lives they expect us to live on vitrually nought.. i cant give up my xing job cause i wouldnt be able to pay my house …bills…and eat.. so i have to stand out in all weathers so I can eat… its impossible and i dont care what anyone says to live on the aged pension if u have house payments or rent to pay…. that why so many aged pensioners cant eat 3 decent meals a day or have heating on in the winter cause they cant afford the bills…

    • I agree with you both and it s not like we can change jobs and go for a higher wage, we are stuck with wht they are giving us, and it is not enough, you barely exist

    • True David and I dont live high on the hog either have basic meals being diabetic i need to eat properly.. what a pity those in parliment isnt made to live on the aged pension for 1 FULL YEAR haha then see it change they couldnt do it that why there is so many aged people being sick cause they cant afford to eat properly.. i have read some say they even afford cruises crikey i would love to afford a holiday … like alot of other aged pensioners.. some are very well off and own their homes..

  5. This is the normal increase, which of course the liberal party tried to change! Where is the resource that says labor opposed this increase? Or is that just a bald faced lie?

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